Snowflake (NYSE:SNOW) Price Target Raised to $205.00

Snowflake (NYSE:SNOW) had its price target hoisted by Loop Capital from $185.00 to $205.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. Argus assumed coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating on the stock. Needham & Company LLC boosted their target price on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their target price on Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, UBS Group cut their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.03.

Snowflake Stock Performance

NYSE SNOW opened at $161.44 on Monday. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock’s 50 day simple moving average is $143.77 and its 200-day simple moving average is $130.59. The company has a market cap of $53.29 billion, a PE ratio of -47.62 and a beta of 1.03.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the transaction, the executive vice president now directly owns 721,755 shares in the company, valued at $86,610,600. This represents a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at $4,667,476.32. This represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 292,614 shares of company stock valued at $48,389,953 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. State Street Corp raised its position in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Geode Capital Management LLC grew its position in Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Two Sigma Advisers LP increased its stake in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in shares of Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.